Is a Certificate of Financial Responsibility (CoFR) needed?
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With a few limited exceptions, vessels greater than 300 gross tons and vessels of any size that are lightering or transshipping oil in the Exclusive Economic Zone (EEZ) are required to comply with the COFR regulations in order to operate in U.S. waters. The current (as of October 21, 2022) civil penalty amount per day for a COFR violation is $51,796.